MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Question
Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = 60 +61 Population + 6₂Income + E, where Sales refers to the sales of StrongBones (in $ millions), Population is the number of women over the age of 60 (in millions), and Income is the average income of women over the age of 60 (in $1,000s). She collects data on 40 cities across the United States and obtains the following regression results: Coefficients 10.19 Predicted Sales Intercept Population 8.19 Income 7.58 a. What is the sample regression equation? (Enter your answers in millions rounded to 2 decimal places.) Standard t Error Stat p-Value 3.25 3.14 0.0057 1.39 5.89 0.0098 6.57 1.15 0.3691 10.19 ✔ Answer is complete and correct. 8.19✔ Population 7.58✔ Income.
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Transcribed Image Text:Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = 60 +61 Population + 6₂Income + E, where Sales refers to the sales of StrongBones (in $ millions), Population is the number of women over the age of 60 (in millions), and Income is the average income of women over the age of 60 (in $1,000s). She collects data on 40 cities across the United States and obtains the following regression results: Coefficients 10.19 Predicted Sales Intercept Population 8.19 Income 7.58 a. What is the sample regression equation? (Enter your answers in millions rounded to 2 decimal places.) Standard t Error Stat p-Value 3.25 3.14 0.0057 1.39 5.89 0.0098 6.57 1.15 0.3691 10.19 ✔ Answer is complete and correct. 8.19✔ Population 7.58✔ Income.
c. Predict Sales if a city has 2.0 million women over the age of 60 and their average income is $43,000. (Enter your answer in millions rounded to 2 decimal places.) X Answer is complete but not entirely correct. Predicted Sales 356.00 X
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Transcribed Image Text:c. Predict Sales if a city has 2.0 million women over the age of 60 and their average income is $43,000. (Enter your answer in millions rounded to 2 decimal places.) X Answer is complete but not entirely correct. Predicted Sales 356.00 X
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